Shea-Porter Introduces Bill to Help Families and Students Afford Higher Education
WASHINGTON, DC — Congresswoman Carol Shea-Porter (NH-01) today introduced H.R.3683, the Student and Families Tax Reduction Act, a bill to make the above-the-line tax deduction for higher education tuition and fees permanent. The deduction of up to $4,000, which is claimed by almost 8,000 Granite Staters per year, expired last December.
“Unless Congress acts, nearly 1.7 million American families and students will lose a critical higher education deduction in the coming filing season,” said Shea-Porter. “New Hampshire students face some of the highest costs in the country. While there are many steps Congress should be taking right now to make higher education affordable, giving families certainty that this deduction will always be there is an essential prerequisite.”
Shea-Porter’s bill to extend the above-the-line deduction for higher education tuition and fees that expired in December 2016 is cosponsored by Reps. André Carson (IN-07), Vicente Gonzalez (TX-15), Tom O’Halleran (AZ-01), Jamie Raskin (MD-08), and Juan Vargas (CA-51).
While students and families were able to claim the deduction on their 2017 tax returns, they will not be able to claim it in 2018 unless Congress acts to restore the deduction. In 2014, over 1.7 million taxpayers [XLS] benefited from the deduction, including nearly 8,000 Granite Staters [XLS].
As a member of the House Education and the Workforce Committee, Shea-Porter is working to reduce the cost of higher education. Earlier this year, she co-introduced the Student Opportunity Act, which would allow student borrowers to refinance their loans at a lower rate and provide tax relief for debt forgiveness. In addition, she has supported legislation to increase Pell Grants and to allow student borrowers to refinance private loans into the federal student loan program, which often offers lower rates.